Apache Strikes Oil Pay at Parmer Prospect

Stone Energy Corporation provided an update on the deep water Parmer prospect located on Green Canyon Block 823. Drilling operations have been completed, and the rig has been released. The well has been logged, and pressure readings and fluid samples have been taken in several Miocene objective sands. The data indicates approximately 240 feet of net condensate-rich gas pay in two gas sands that are full to base, as well as 40 feet of net oil pay in two sands that both encountered oil on water. The partners plan to analyze the data from this well and develop a plan forward. Stone holds a 35 percent working interest in the project, and Apache Corporation is the operator.


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